Features of Cambodia’s Economic Transformation: Achievements and Failures

Occupation: Research Fellow, Institute of China and contemporary Asia, Russian Academy of Sciences
Affiliation: Institute of China and contemporary Asia, Russian Academy of Sciences
Address: Russian Federation, Moscow

Journal name

Asia and Africa Today

Edition

Issue 9

Pages

45-52

Abstract

In the relatively recent past, Cambodia was associated with poverty, political instability and conflicts. Before COVID-19, it achieved accelerated economic growth rates that were significantly higher than the world average, a significant increase in GDP and GDP per capita. Cambodia has become one of the fastest growing economies in the world. But the pandemic exposed the bottlenecks of the economic development model.

The article analyzes the features of economic transformation in Cambodia, sources of growth, constraints and threats. The author comes to the conclusion that the economic model is extremely unbalanced. The country becomes dependent on the markets for a certain narrow range of goods and their conjuncture on world markets. Thus, economic modernization leads to very rapid but ultimately unsustainable economic progress.

Keywords

Cambodia, economic transformation, economic growth, economic model, sources of economic growth, productivity, economic efficiency

Received

23.05.2023

Publication date

25.09.2023

Number of characters

22183

Cite

GOST	Burova E. Features of Cambodia’s Economic Transformation: Achievements and Failures // Asia and Africa Today – 2023. – Issue 9 C. 45-52 [Electronic resource]. URL: https://asaf-today.ru/S032150750025673-2-1 (circulation date: 14.05.2024). DOI: 10.31857/S032150750025673-2
MLA	Burova, Elena S. "Features of Cambodia’s Economic Transformation: Achievements and Failures." Asia and Africa Today 9 (2023):45-52. DOI: 10.31857/S032150750025673-2
APA	Burova E. (2023). Features of Cambodia’s Economic Transformation: Achievements and Failures. Asia and Africa Today (9), pp.45-52 DOI: 10.31857/S032150750025673-2

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